Regarding the Idea Generation Stage of the New-Product Development Process

question 94

Multiple Choice

Regarding the idea generation stage of the new-product development process, which of the following is true?

• A) Business firms often get new product ideas from competitors.
• B) It is best to focus on only a few good ideas at this stage.
• C) Studying customers' ideas is not very helpful, since they tend to focus on minor technical changes in existing products.
• D) Most companies don't need a special procedure for seeking new product ideas because so many ideas are coming from so many different sources.
• E) None of these alternatives is true.

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Definitions:

Annually Balanced Budget

Budget philosophy prior to the Great Depression; aimed at matching annual revenues with outlays, except during times of war.

Business Cycle

The periodic fluctuations in economic activity characterized by phases of expansion and contraction.

National Debt

The total amount of money that a country's government has borrowed from various sources.

Functional Finance

An economic theory that prioritizes achieving full employment and stable pricing over balancing budgets.